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Sterling Bancorp Q4 Profit Down

Sterling Bancorp (STL) Wednesday reported fourth-quarter net income of $74.5 million or $0.38 per share, compared to net income of $104.7 million or $0.52 per share last year.

Adjusted net income was $94.3 million or $0.49 per share for the fourth quarter. Analysts polled by Thomson Reuters estimated earnings of $0.46 per share for the quarter. Analysts' estimates typically exclude one-time items.

Net interest income for the quarter dropped to $222.03 million from $228.26 million last year.

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